Peter L. Brandt Claims Bitcoin Is Putting In Its Cycle Low “Now”

Tony "The Bull" Severino

Last Updated: June 11, 2024 8:13 am

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Career commodities trader Peter L. Brandt is now claiming that Bitcoin is putting in a “low for this cycle now,” according to a new TradingView post.

This call for a bear market bottom is already being met with skepticism, but given the chilling accuracy at which Brandt had made related to his cryptocurrency bets in the past, there could be more validity than investors are ready to accept.

Peter L. Brandt TradingView Post Calls For Cycle Low In BTC

In a new TradingView post currently trending on the charting platform’s editor’s picks section, career commodities trader Peter L. Brandt says that the cycle lows for the crypto market are taking place “now.”

Although Brandt doesn’t directly state that the bottom is already in, he does believe that Bitcoin’s behavior is “predictable” and should see a strong advance after the recent, nearly 80% decline.

Brandt famously called for an 80% decline in BTCUSD in late January 2018 after the 2017 parabolic advance was violated. Back then, Brandt called it a “general TA rule, eventually nailing his sub-$4,000 target some eleven months later in December of the same year.

A closer look at Brandt's analysis | BTCUSD on TradingView.com

What The Career Trader Expects For Bitcoin In 2023 And Beyond

“I do not expect Bitcoin to run away to the upside, but rather work higher toward late 2023/early to mid 2024 when the ATHs are retested,” he explained, sharing the chart above to justify the analysis.

The Factor LLCCEO is a classical chartist, and in his TradingView post shares a 6-month timeframe bar chart. Other visual cues aiding his analysis include the largest sell volume ever on the BTCUSD index chart.

Peter L. Brandt has earned himself a polarizing reputation in the cryptocurrency community. The comments section is already taking jabs at the trader with 40 years experience.

According to the CMT Association, Brandt founded Factor LLC in 1980, but entered the commodities trading business beginning in 1976 with ContiCommodity Services.

He is also published author, releasing the book “Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading” in 2011 – the same year he was named one of the 30 most influential persons in the world of finance by Barry Ritholtz.

Today, Brandt is one of the contributing analysts at Bitcoin.live along with Bob Loukas and other well-known traders.

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.